Assenagon Asset Management S.A. Reduces Stake in Revvity, Inc. (NYSE:RVTY)

Assenagon Asset Management S.A. reduced its stake in Revvity, Inc. (NYSE:RVTY) by 67.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,950 shares of the company’s stock after selling 59,230 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Revvity were worth $3,571,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd grew its holdings in shares of Revvity by 3.9% during the 3rd quarter. IFM Investors Pty Ltd now owns 25,959 shares of the company’s stock worth $3,316,000 after purchasing an additional 975 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Revvity by 12,674.8% during the 3rd quarter. International Assets Investment Management LLC now owns 13,669 shares of the company’s stock worth $1,746,000 after purchasing an additional 13,562 shares during the period. Eastern Bank purchased a new position in shares of Revvity during the 3rd quarter worth $80,000. Sequoia Financial Advisors LLC grew its holdings in shares of Revvity by 2.1% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 23,865 shares of the company’s stock worth $3,049,000 after purchasing an additional 491 shares during the period. Finally, Prio Wealth Limited Partnership purchased a new position in shares of Revvity during the 3rd quarter worth $227,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Revvity Price Performance

RVTY stock opened at $120.08 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.98. The firm has a market capitalization of $14.82 billion, a P/E ratio of 99.24, a P/E/G ratio of 3.27 and a beta of 1.05. The business’s 50-day moving average is $121.41 and its two-hundred day moving average is $113.76. Revvity, Inc. has a 1 year low of $80.97 and a 1 year high of $128.15.

Revvity (NYSE:RVTY) last issued its earnings results on Monday, July 29th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.10. The business had revenue of $691.70 million for the quarter, compared to analyst estimates of $690.33 million. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the company earned $1.21 EPS. Analysts anticipate that Revvity, Inc. will post 4.75 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.23%. The ex-dividend date is Friday, January 17th. Revvity’s payout ratio is 23.14%.

Insider Buying and Selling

In related news, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of the sale, the insider now owns 19,652 shares in the company, valued at $2,392,237.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of the sale, the insider now owns 19,652 shares in the company, valued at $2,392,237.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tajinder S. Vohra sold 2,153 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.09, for a total value of $262,859.77. Following the sale, the insider now owns 23,960 shares of the company’s stock, valued at approximately $2,925,276.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,807 shares of company stock worth $937,576 over the last 90 days. 0.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RVTY shares. Barclays upgraded Revvity from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $125.00 to $140.00 in a report on Tuesday, October 15th. Bank of America raised their target price on Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Wells Fargo & Company initiated coverage on Revvity in a report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 target price for the company. Leerink Partnrs upgraded Revvity to a “strong-buy” rating in a report on Monday, July 8th. Finally, TD Cowen raised their target price on Revvity from $130.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $127.20.

About Revvity

Revvity, Inc provides health sciences solutions, technologies, and services in the Americas, Europe, and Asia, and internationally. The Life Sciences segment provides instruments, reagents, informatics, software, subscriptions, detection, imaging technologies, warranties, training, and services. Its Diagnostics segment provides instruments, reagents, assay platforms, and software products for the early detection of genetic disorders, such as pregnancy and early childhood, as well as infectious disease testing in the diagnostics market.